VanEck Junior Correlations

GDXJ Etf

USD 70.28 1.69 2.46%

The current 90-days correlation between VanEck Junior Gold and VanEck Gold Miners is 0.98 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VanEck Junior moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Junior Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VanEck Junior Correlation With Market

Very good diversification

The correlation between VanEck Junior Gold and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Junior Gold and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with VanEck Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in VanEck Junior Gold. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with VanEck Etf

0.96	GDX	VanEck Gold Miners Aggressive Push	Pair Corr
0.92	SIL	Global X Silver	Pair Corr
0.92	SILJ	Amplify ETF Trust	Pair Corr
0.97	SGDM	Sprott Gold Miners	Pair Corr
0.89	SGDJ	Sprott Junior Gold	Pair Corr
0.89	GOAU	US Global GO	Pair Corr
0.98	GOEX	Global X Gold	Pair Corr
0.77	ARP	Advisors Inner Circle	Pair Corr
0.63	SEMI	Columbia Seligman	Pair Corr
0.69	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.63	GE	GE Aerospace Earnings Call Today	Pair Corr
0.67	IBM	International Business Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	GDX	SIL	SILJ	PAAS	FNV
GDX		0.85	0.84	0.86	0.29	GDX
SIL	0.85		1.0	0.91	-0.2	SIL
SILJ	0.84	1.0		0.9	-0.21	SILJ
PAAS	0.86	0.91	0.9		-0.07	PAAS
FNV	0.29	-0.2	-0.21	-0.07		FNV
	GDX	SIL	SILJ	PAAS	FNV

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SILJ	+ 1.0	SIL
PAAS	+ 0.91	SIL
PAAS	+ 0.9	SILJ
PAAS	+ 0.86	GDX
SIL	+ 0.85	GDX
SILJ	+ 0.84	GDX

High negative correlations

FNV	- 0.21	SILJ
FNV	- 0.2	SIL
FNV	- 0.07	PAAS

VanEck Junior Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Junior ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze VanEck Junior's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GDX	1.75	0.23	(0.02)	(0.09)	2.29	(1.79)	3.48	(3.59)	11.69
SIL	1.66	0.43	0.08	(0.36)	1.98	(1.79)	4.10	(3.12)	11.19
SILJ	1.79	0.43	0.08	(0.44)	2.02	(1.89)	4.77	(3.42)	12.60
PAAS	2.09	0.34	0.01	(0.12)	3.61	(2.08)	4.91	(3.05)	22.62
FNV	1.29	(0.03)	0.00	0.18	0.00	0.00	2.33	(3.06)	10.00

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